BetMGM posts expected FY 2022 results, with an EBITDA loss of $440m

Entain and MGM Resorts’ sports betting arm BetMGM has announced its pre-FY results for 2022, showing an expected net revenue of $1.44bn. Initially, BetMGM had expected to see net revenue of $1.3bn; however, this was revised up in recent weeks. Meanwhile, the brand expects to post an EBITDA loss of $440m, which is in line with prior guidance. BetMGM says its financial performance was hit by ‘higher gross gaming margins; same state CP...